A further £10m will fund a national space technology programme, with an equal sum being spent on test facilities at the ISIS neutron source, a centre for studying the structure of matter, in Harwell, Oxfordshire. Nine new university centres dedicated to manufacturing will be set up.

Imran Khan, director of the Campaign for Science and Engineering, said the extra funding could be a "first step on the path to making science and engineering pivotal to growth", but added: "Labs across the country are going to be struggling to make ends meet following the budget cuts announced last year."

Sally Hunt, general secretary at the University and College Union, said: "Given the huge overall cut to the science capital budget, £100m to be shared between four research centres is to be welcomed, but is hardly cause for celebration."

In a move designed to boost small hi-tech companies, Osborne said the small companies research and development tax credit will rise from April to 200% and again next year to 225%. According to the video games industry body TIGA, the increase could be worth £7m to the sector.

Alongside the budget, the government published details of its growth review and highlighted plans to reduce red tape surrounding clinical trials and create a health regulatory agency to streamline bureaucracy.

Funds for scientific research were spared painful cuts in October's comprehensive spending review, with a flat cash settlement until 2015. This resulted in a real-terms reduction, taking inflation into account, of nearly 10%.

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